“In my youth, I travelled much, and I observed in different countries, that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer” – Benjamin Franklin
Many times there are people in the same industry selling the exact same products and services, and many of them are making more money and yet others are barely surviving – what is the difference?
THE PSYCHOLOGY OF A RECESSION
Here are some powerful thoughts and ideas for you to consider and to chew on:
1. A Recession of Confidence
“People reading the paper, listening to the news every single day, and all you hear is things are getting worse and worse. And that has a psychological effect on consumer confidence. That’s what consumer confidence is.” – Howard Schultz.
The Consumer Confidence Index is a survey that measures how optimistic or pessimistic consumers are regarding their expected financial situation.
People don’t like instability and uncertainty, and consumer confidence goes down in difficult times. There is a multiplicity of negative mental attitudes spreading prolifically across the business mindset; ultimately choking out the good.
2. A Recession of Planning
“If you’re failing to plan, you’re planning to fail.” Benjamin Franklin
You as a leader need to envision a path to increase business success, to build customer interest and enthusiasm. Have goals and plans in “writing.”
If you don’t have a WRITTEN PLAN then your lack of planning causes everyone inside your company to stagnate and causes a slump in your business. If you don’t have a plan they don’t have a plan.
Then we’re all just focused on putting out daily fires. My observation of most business people is they are glorified FIREFIGHTERS.
3. A Recession of Imagination
“Imagination is everything. It is the preview of life’s coming attractions.” – Albert Einstein
A bumper sticker advises: “When life hands you a lemon, make lemonade!” Challenging times are often the magic time when using your imagination can help you achieve greater success.
The most powerful way to use our unlimited imagination is to first use it to decide where we’re going. The Bible says: “Where there is no vision, the people perish.”
Sun Tzu’s (Art of War) quote is also very revealing: “Strategy without tactics is the slowest route to victory – Tactics without strategy is the noise before defeat”
Some leaders are strategic thinkers but have no written concrete steps in place as to how they’re going execute their plans. They’re focused on daily challenges to ensure they reach the end-of-month goals. THEY’RE FOCUSED ON SURVIVAL. And that’s all they’ll ever do is survive.
Other business people are more tactical than strategic. They have daily plans in their calendars but those daily activities aren’t connected to the big picture, and the business is usually leaking value as a result.
The TOOLKIT we use is designed to stimulate your “strategic” thinking to document your business’s intended direction. And most important to set out specific plans of action.
Success happens one step at a time, one day at a time, every day of your life. SO THE FUTURE MAKES SENSE OF THE PRESENT.
4. A Recession of Mood of Attitude
“You can make positive deposits in your own economy every day by reading and listening to powerful, positive, life-changing content and by associating with encouraging and hope-building people.” – Zig Ziglar
For me, this is the most important and most powerful because ALL of the above depends on the mood or attitude that you bring to your work, or bring into your home.
One of my clients said that he goes home in a bad mood every day. WOW!
Your business is ALWAYS a 100% reflection of you the founder or business owner.
Many of my clients are also realising that their mental health or mental state and their clarity as an entrepreneur is one of their biggest determinants of success… and one of the biggest causes of failure.
“I’ve found that success is 80% your Emotional State and only 20% skills” – Tony Robbins
CHANGING YOUR EMOTIONAL STATE IS KEY!!!
When you change your mental and emotional state (state of mind) you change how you speak and how you behave in your family and in your work.
Whoever the leader/manager is at work or dad/mom at home their mental and emotional state impacts EVERYBODY. Your kids, your partner, your colleagues, your staff, your customers.
SO TRAINING YOURSELF TO BE IN THAT PEAK EMOTIONAL STATE IS KEY TO IT ALL!
WISE GUYS
“You cannot control what happens to you, but you can control your attitude toward what happens to you, and in that, you will be mastering change rather than allowing it to master you.” – Brian Tracy
“Keep your face always toward the sunshine – and shadows will fall behind you.” – Walt Whitman
“Ability is what you’re capable of doing. Motivation determines what you do. Attitude determines how well you do it.” – Lou Holtz
“For success, attitude is equally as important as ability.” – Walter Scott
“People may hear your words, but they feel your attitude.” – John C. Maxwell
“Excellence is not a skill, it’s an attitude.” – Ralph Marston
“Weakness of attitude becomes weakness of character.” – Albert Einstein
